Clean Harbors Acquires HEPACO from Gryphon Investors for $400M

February 6, 2024

Clean Harbors, Inc. completed the acquisition of HEPACO from Gryphon Investors for $400 million in cash, financed in part by a $500 million expansion of its term loan facility. HEPACO, headquartered in Charlotte, North Carolina, generated approximately $270 million of revenue and $36 million of adjusted EBITDA in 2023 (about 1,000 employees across ~40 locations); Clean Harbors expects roughly $20 million of cost synergies and about $30 million of incremental adjusted EBITDA in 2024.

Buyers
Clean Harbors, Inc.
Targets
HEPACO, LLC
Sellers
Gryphon Investors
Location
North Carolina, United States
Transaction Type
Buyout

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